Top news and views about Bitcoin and Cryptocurrency for 19 Jul 2017
CrowdifyClub Category: Crypto Currencies
(Tip: To open the tweet in a new window 'Right-Click' the 'Tweet This Story' text and 'Open link in new tab')
Suddenly, Bitcoin Hard Fork Looks Unlikely As Chinese Exchange Readies For SegWit
Chinese exchange OKCoin has confirmed it will halt trading over the SegWit lock-in period as a hard fork appears less likely.
In a blog post yesterday, the exchange said it had made the decision to “protect against” any undesirable consequences of a potential hard fork resulting from the adoption of BIP 148.
“During the potential fork, from 2017-07-31 to 2017-08-02, we will suspend Bitcoin deposits and withdrawals due to potential technical risks such as replay attacks and other issues that may cause network instability,” it wrote.
Full story at http://bit.ly/2tcuWR3
Source: CoinTelegraph
How Hackers Stole $7 Million in Ether From Coindash ICO
Coindash’s funding page read, “This is an emergency message delivered to you in order to stop you from sending your money to an unauthorized ETH address. It seems like our Token Sale page was tampered and the sending address was changed. Please stop from sending your funds to any of the addresses until we say otherwise. We are currently examining the situation and will shortly send further instructions.”
The token sale was slated to last for 28 days, and intended to raise $12 million. However, after the hacking attempt, the page was summarily shut down by the staff. The hacker had commandeered the website and changed the ethereum address. This allowed the thief to siphon funds from investors, whose ether were originally intended for the Coindash token sale address. The thief’s address was tracked down on Etherscan, and it showed the amount of stolen ether to be worth $7.4 million USD.
Full story at http://bit.ly/2tctsWR
Source: Bitcoin News
The Bitcoin Scaling Countdown: Miners Begin Running Segwit2x Software
As the price of bitcoin dropped to new lows this weekend, some bitcoin proponents were patiently waiting for the promised BTC1 software. Now it seems in a short period of time the bitcoin ‘community’ may see the protocol Segregated Witness (Segwit) activated as the mining community has begun to signal BIP91. The proposal BIP91 is a combination of Segwit2x and BIP148. The version 1.14.4 code has been pushed to the repository by the Segwit2x working group, and a few mining pools have already started running the protocol. The China-based Bitmain technologies announced their support via Twitter by stating;
All of our bitcoin mining pools will start running the new Segwit2x software today.
Other mining pools signaling and mining BIP91 blocks include Bixin, Antpool, BTC.com, Bitfury, and Bitclub so far. Now spectators are waiting for other pools like BTCC, F2pool, Slush, and a few others to join. Back in June Bitcoin.com reported on how a vast majority of the hashrate was signaling their initial support for Segwit2x. Miners running the new BTC1 software and currently signaling BIP91 means that if enough hashrate reaches over 80 percent and continues for a 336 block period, Segwit will “lock in”. If all is successful, this will then lead to another 336 block period that will activate the Segwit protocol on the main chain.
Full story at http://bit.ly/2tcbR1y
Source: Bitcoin News
$500,000 per Bitcoin? Public Personas Get Bullish on Bitcoin
On July 7, Fundstrat’s Tom Lee became the $500,000 per Bitcoin? Public Personas Get Bullish on Bitcoinfirst big league Wall Street strategist to analyze bitcoin under a light of optimism. In a report, he claimed bitcoin could reach $55,000 by 2022. He also commented on the gold market, saying that urgency for possessing bitcoin will act as a substitute for gold. A CNBC article covered his enthusiasm:
“We believe one of the drivers [of bitcoin] is crypto-currencies are cannibalizing demand for gold. Based on this premise, we take a stab at establishing valuation framework for bitcoin. Based on our model, we estimate that bitcoin’s value per unit could be $20,000 to $55,000 by 2022.”
He went on to say gold’s market value currently sits at $7.5 trillion, and bitcoin is $41 billion (at the time of writing). However, gold’s supply is swelling due to intensified mining operations, whereas bitcoin’s supply will remain stable as a result of the 21 million cap. This apparently places a huge demand burden on bitcoin, which may cause the price to trend forcefully upward.
Full story at http://bit.ly/2tce2Sz
Source: Bitcoin News
Ethereum Lost $22 Bln in 2 Months, ETH Price Can Still Rise in Long Run
Since late May, the market cap of Ethereum, the second largest crypto asset and Blockchain network in the market, has dropped from $36 bln to $14 bln, recording a $22 bln loss within a two-month period.
Analysts from mainstream media networks including CNBC have attributed the recent fall of the Ethereum market cap to various factors, including uncertainty surrounding Bitcoin’s scalability and the entire cryptocurrency market.
Still, some factors have become quite evident in the past few months, amidst the rapid growth of the initial coin offering (ICO) market. Successful ICOs including Status, Bancor, EOS and Tezos have raised hundreds of millions of dollars, but since the completion of their ICO campaigns, none of the large-scale ICOs and Blockchain projects are yet to present viable products and tested software.
EOS for instance, the ICO that raised $180 mln, is set to complete minimal viable testing environment by the end of this summer. Only by fall of this year, the EOS development team will launch its minimal viable test network that can run independent codebases of developers.
Full story at http://bit.ly/2t8YHSA
Source: CoinTelegraph
Bitcoin's Miners Signal for Segwit2x Scaling Proposal Early
Bitcoin's miners weren't expected to start signaling for the controversial scaling proposal Segwit2x until July 21st, but some are already moving to show support in advance of another round of software testing.
As of today, about 43% of bitcoin's mining power is signaling for the change, including AntPool, BitClub, Bixin, BTC.com and BitFury – and other mining pools may be on the way. Slush Pool, which oversees about 5% of the hashrate, said that it will soon signal as well. As of now, there is no way to tell which are running the code.
Still, all miners need to do to lock in the update is signal support for the change via a code proposal called BIP91. If a total of 80% of miners do so within the next 336 blocks, a period of about two days, the long-proposed code change Segregated Witness will be activated on the network.
While surprising, the move is likely due to a perceived need to upgrade the protocol to support SegWit before August 1.
Full story at http://bit.ly/2t8vZ4z
Source: CoinDesk
Prepared by @SydesJokes
Original post from: http://Blog.CrowdifyClub.com/
Register for your FREE CrowdifyClub account.
Check the "Crowdify Club Bitcoin and Crypto"Facebook Group: https://www.facebook.com/groups/crowdifycrypto/
And do you know about Abduction of bitcoins?
wow
Very good condensed of the last informations, thank you